Falanx Group Limited Strategic Contract Win (4113Z)

TIDMFLX

RNS Number : 4113Z

Falanx Group Limited

18 September 2020

FALANX GROUP LIMITED

("Falanx", the "Group" or the "Company")

Strategic Contract Win

Falanx Group Limited, the AIM listed (FLX.L) provider of cyber security and strategic intelligence services, is pleased to announce a new contract for its Cybersecurity monitoring services using its recently launched Triarii Managed Detection and Response ("MDR") platform to a Managed Services Provider ("MSP") based in the US.

The deal followed an accelerated sales cycle, in conjunction with Falanx's partnership with SolarWinds MSP which is part of SolarWinds Inc, a worldwide leader in solutions for network and IT service management, application performance, and managed services. While initial revenues are not yet material, as the contract currently only covers a limited number of devices, there is the potential for this to grow significantly with the addition of further devices and services.

This contract represents the first sale of a new and additional, Managed Endpoint Detection and Response ("EDR") service which enables our Security Operation Centre ("SOC") to sit behind SentinelOne EDR software. This combination delivers a truly flexible EDR offering to MSPs globally combined with the ability of Triarii to adapt to multiple user needs.

The Board of Falanx considers that there is potential for future additional sales of Triarii though SolarWinds' Technology Alliance Program ("TAP").

Mike Read, CEO of Falanx commented that, "This is an important strategic win for Falanx Cyber, offering validation at multiple levels. It is further customer and industry validation of Triarii MDR as an important cybersecurity offering for our customers and the flexibility of our new SentinelOne SOC service. It is also our first US-based MSP from the SolarWinds community to sign up to our services."

Enquiries:

 
 Falanx Group Limited                      Via IFC 
  Alex Hambro Chairman 
  Mike Read CEO 
  Ian Selby CFO 
 Stifel Nicolaus Europe Limited, 
  Nomad and Joint Broker 
  Alex Price / Fred Walsh                  + 44 (0) 207 710 7600 
 Turner Pope Investments (TPI) Limited, 
  Joint Broker 
  Andy Thacker/Zoe Alexander               [phone] 
 
   IFC Advisory Ltd, Financial PR 
   & IR 
   Graham Herring / Zach Cohen               [phone] 
 

About Falanx

Falanx Group Limited, is a global intelligence and cyber defence provider working with blue chip and government clients. For more information: http://www.falanx.com/

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September 18, 2020 02:00 ET (06:00 GMT)